The price of the SUI token has surged by 15% to $2.91, bouncing back after reaching a weekly low of $2.29. This surge aligns with a broader market recovery attributed to improved investor sentiment and easing geopolitical tensions. Analysts speculate that SUI could rise above $3 or face support challenges near $2.
Sui Token Price Soars Amid Cryptocurrency Market Recovery
After enduring a month-long decline, the SUI token has rebounded significantly, trading at a daily high of $2.91 on Tuesday. As of this writing, the altcoin’s price stood at $2.79.
This double-digit gain coincides with a resurgence in the overall cryptocurrency market, driven by easing geopolitical anxieties and recent comments from Federal Reserve Chairman Jerome Powell, which have bolstered investor confidence.
The price of SUI has also benefited from a new partnership between OKX Wallet and Navi Protocol, along with Momentum, to launch “BTCfi” on Sui. The community can participate for a chance to win a share of the $2.5 million reward pool.
Bitcoin, but leveled up — with more yield, more rewards, and powered by Sui ⚡️ Excited to see OKX @wallet, @navi_protocol, and @MMTFinance bring BTCfi to life. More than $2.5M USD in rewards are up for grabs. https://t.co/8PZK5D3Uw3
— Sui (@SuiNetwork) June 24, 2025
The SUI token’s notable gains come as major assets like Bitcoin (BTC) and other leading altcoins experience upward movement. However, SUI’s 15% rise stands out, indicating strong bullish momentum amidst a generally bearish climate. The token is still down 20% over the past month and well below its all-time high of $5.35.
Price Forecast for SUI: Are Bulls Ready to Charge?
Technical analysis reveals that SUI’s price is operating within a descending channel on daily charts. It also indicates a broader descending triangle formation, suggesting that sellers could still exert influence despite the recent bounce off the weekly lows of $2.29.
Examining the charts shows that the Relative Strength Index (RSI) has bounced off the oversold level, indicating potential for growth. Additionally, the Moving Average Convergence Divergence (MACD) suggests a possible bullish crossover, making it crucial for bulls to capitalize on this momentum.
In this scenario, key resistance levels are expected around $3.50 and $4.13. Clearing these levels could see bulls charging towards previous all-time highs and beyond.
Conversely, failure to maintain this upward momentum could result in SUI retreating to the support level at $2.43, where a recent local low has formed. If bears breach this level, it could lead to a psychological drop below $2.
The recent 15% increase in SUI reflects a broader market recovery and renewed interest in the SUI ecosystem. Yet, with critical resistance levels looming and the risk of ongoing bearish pressure, the token’s trajectory remains uncertain.
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